Abacus Finance Group has served as administrative agent and sole lead arranger for $14 million in senior secured credit facilities to support the leveraged buyout of Delphon Industries by Fulham & Co in partnership with Farol Asset Management and Brooke Private Equity Associates. Abacus also made an equity co-investment in Delphon.
Abacus Finance Group, LLC (Abacus), a New York-based specialty lending company dedicated to providing cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced today that it served as Administrative Agent and Sole Lead Arranger for $14 million in senior secured credit facilities to support the leveraged buyout of Delphon Industries, LLC (Delphon) by Fulham & Co., Inc (Fulham) in partnership with Farol Asset Management (Farol) and Brooke Private Equity Associates (Brooke). In addition to providing the financing, Abacus made an equity co-investment in Delphon.
Headquartered in Hayward, CA, Delphon is a manufacturer of specialty packaging that protects high-value semiconductor and medical components. Fulham, which is based in Wellesley, MA, invests in companies that manufacture highly engineered, commercial products that have established leading positions in niche markets.
“Knowing of Abacus’ strong reputation for closing transactions quickly and smoothly, we fully expected that this transaction would go well, which it did given their deep knowledge of the company and industry,” said John N. Fulham III, Managing Partner of Fulham. “There were two keys to the deal’s success – Abacus provided certainty of close at an early stage and executed seamlessly.”
“The advantages of working with Fulham are their industry expertise within niche manufacturing and their impressive investment track record,” said Tim Clifford, President and CEO of Abacus. “In Delphon, they found a first class company in an industry they know well. Once again, it was our level of client service, ability to execute quickly, and flexibility in transaction structuring that made a difference to Fulham – all part of Abacus’sclient-centric Total Partnership ApproachTM.”
The Abacus team was led by Eric Petersen. Abacus was joined in the financing by mezzanine partner Avante Mezzanine, and legal counsel was provided to Abacus by Goulston & Storrs, LLP.
About Delphon Industries, LLC
Delphon is a leading manufacturer of specialty packaging that protects high-value semiconductor and medical components. For over 30 years, the company has protected customers’ devices through its application of patents, unique materials, chemistries, and proprietary technologies. Delphon has established itself as a niche market leader, and its worldwide customer base includes many industry leaders. Its breath of product and service offerings spans a wide range of industry verticals including the semiconductor, optoelectronics, data storage, crystal/optics, sensors, medical, aerospace and defense, telecom and LED markets, and its brand portfolio includes Gel-Pak, Quik-Pak, TouchMark, and UltraTape. Visit delphon.com for more information.
About Fulham & Co, Inc.
Fulham, which is based in Wellesley, MA, has been investing in manufacturing companies since 1984, and targets companies that sell highly engineered, commercial products with leading positions in niche markets. Its team, most of whom have 20 or more years of operating experience, has completed 34 transactions with entrepreneurial owner-managers and currently manages approximately $280 million across two investment funds. Visit fulhamco.com for more information.
About Abacus Finance Group, LLC
Abacus Finance, headquartered in New York, NY, is a specialty lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies nationwide. Formed in June 2011, Abacus targets debt financing opportunities of up to $50 million with a typical hold size ranging from $10 million to $25 million, and the companies it finances generally have EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, the holding company for Emigrant Bank, which was founded in 1850.
Abacus is headquartered at 6 East 43rd Street, 20th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to firstname.lastname@example.org. Visit abacusfinance.com for more information.